Cryptocurrency

Facebook bans all cryptocurrency ads

Facebook bans cryptocurrency ads
(C) iStock.com/Lightcome

Facebook has announced that it will block all advertising relating to the promotion of cryptocurrency products and services.

In a statement the company said the move was designed to uphold two core advertising principles  that state that ads on the network should be safe and should not be misleading or deceptive. The new policy looks to block ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices”.

The company is particularly focusing on binary options, ICOs and cryptocurrencies. While there are many legitimate and worthwhile services and products being advertised on Facebook, the company said that it believed that there is a significant number who are advertising these services but are not “operating in good faith”.

The company states:

“This policy is intentionally broad while we work to better detect deceptive and misleading advertising practices, and enforcement will begin to ramp up across our platforms including Facebook, Audience Network and Instagram. We will revisit this policy and how we enforce it as our signals improve.”

The move is part of an ongoing push by the company to improve both the integrity and security of its ads.

The move comes on the heels of positive comments on the potential benefits of cryptocurrencies made by mark Zuckerberg. In January the Facebook founder made a statement on his page that digital currencies have the power to “that take power from centralized systems and put it back into people’s hands.” He also cautioned that cryptocurrencies carry the risk of being harder to control.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top

We are using cookies on our website

We use cookies to personalise content and ads, to provide social media features, and to analyse our traffic. Please confirm if you accept our tracking cookies. You are free to decline the tracking so you can continue to visit our website without any data sent to third-party services. All personal data can be deleted by visiting the Contact Us > Privacy Tools area of the website.